Scott County business owner pleads guilty to loan fraud

A man who operated a produce business in Scott County pleaded guilty this week to putting false information on loan applications and to wire fraud. William C. Thompson, 52, put his son’s Social Security number on applications for three loans totaling $235,000 in 2013 in order to conceal his poor credit history, according to a court document.

Thompson was charged in federal court because he applied for loans in Bourbon County at federally backed lenders. The maximum sentence on the charges would be 30 years in prison. Thompson’s sentence is likely to be considerably less under advisory sentencing guidelines, however. Thompson is to be sentenced in March.